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NEWS
August 9, 2011
Fuel refiner and seller Sunoco Inc., of Philadelphia, said it will repurchase up to $500 million of its outstanding common stock. Chief executive Lynn L. Elsenhans called the move an "appropriate and strategic use of the company's cash while still allowing the flexibility to continue pursuing growth in our retail and logistics businesses. " Shares closed up $1.17, or 3.91 percent, to $31.11. As of June 30, Sunoco had approximately 121.6 million shares outstanding.    - Reid Kanaley
NEWS
June 22, 2000 | YONG KIM/ DAILY NEWS
A yellow cloud of gritty material from the Sunoco oil refinery blankets South Philadelphia last night. It caused burning eyes and coughing, but company officials said the dust from the 3 p.m. venting posed no threat to residents.
BUSINESS
April 17, 2009 | By Harold Brubaker INQUIRER STAFF WRITER
Sunoco Inc. said yesterday that it was selling its Tulsa, Okla., oil refinery to Holly Corp. for $65 million. The Tulsa refinery, with the capacity to process 85,000 barrels of crude oil a day, is the smallest of Sunoco's five refineries, which include three in the Philadelphia area. The deal is expected to close June 1, pending regulatory approvals, Philadelphia-based Sunoco said. The sale comes at a time when some analysts expect refiners to close some of the smaller U.S. refineries because demand for gasoline and other refined products is down.
BUSINESS
August 7, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Three years after a brush with extinction, the former Sunoco refinery in South Philadelphia has increased dramatically in value under new owners and could be worth more than $1 billion. The private-equity firm Carlyle Group, which rescued the refinery in 2012 in a joint venture with Sunoco, on Thursday is launching an initial public offering of Philadelphia Energy Solutions Inc. on the New York Stock Exchange. The $250 million IPO would value the underlying refinery enterprise at $1.3 billion, if PES shares launch at $16.50.
BUSINESS
January 23, 2004 | By Harold Brubaker INQUIRER STAFF WRITER
Lower-than-expected profit margins in refining and a 25-day maintenance shutdown at its South Philadelphia refinery caused Sunoco Inc.'s fourth-quarter refining profit to fall by more than half, to $20 million from $48 million, the company reported yesterday. On the news, the Philadelphia company's shares gave back little of the more than $20 they had gained since August, falling 1 percent, to $56.07. Shares in independent petroleum refiners are at a cyclical peak, with many analysts seeing them headed into a period of strong profit because of, among other factors, clean-fuel regulations that tighten supply.
BUSINESS
February 27, 2009 | By Jeff Gelles INQUIRER STAFF WRITER
As Sunday's expiration of their contract with Sunoco Inc. nears, workers at the company's Philadelphia and Marcus Hook refineries yesterday stepped up efforts to protest staffing cutbacks they say will endanger workers and nearby neighborhoods. Several hundred refinery workers rallied outside Philadelphia's City Hall, then marched to Sunoco's headquarters. Union officials said they presented petitions against the cutbacks signed by about 2,000 people who live near the refineries.
SPORTS
July 10, 2008 | By BILL FLEISCHMAN For the Daily News
Think it's a snap supplying racing fuel to NASCAR's teams? For Philadelphia-based Sunoco, now in its fourth year as NASCAR's official fuel, it takes extensive planning. "Our planning begins months ahead of the event," Thomas Golembeski, Sunoco's manager of media and public relations, said this week. "Once the fuel gets onto the dedicated fleet of Sunoco tankers, there's a strict chain of custody from the moment the fuel leaves the plant until it arrives at the track. "There are about 100 people on regional crews that oversee that process.
BUSINESS
June 29, 1999 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
Sunoco is urging summer travelers to get "pumped up. " But investors in the century-old Philadelphia petroleum processor haven't had a lot to celebrate lately. The U.S. oil refining and marketing industry is in a funk. Gasoline prices have been rising more slowly than crude oil costs, and that squeezes gas merchants such as Sunoco. This is, as chairman Robert H. Campbell puts it, "a tough, dog-eat-dog business. " At a Philadelphia Securities Association luncheon last week, he admitted Sunoco won't meet its 15 percent earnings-growth target this year.
NEWS
May 10, 2009 | By Lini S. Kadaba INQUIRER STAFF WRITER
Workers spent much of yesterday cleaning up a gasoline leak at a Sunoco storage facility in Upper Chichester that has affected aquatic life in a tributary to Marcus Hook Creek, a spokesman for the state Department of Environmental Protection said. A witness driving by the scene at 11:30 p.m. Friday noticed a "geyser of gasoline" gushing from the Sunoco pump station on Route 322 in Twin Oaks and notified authorities, DEP spokesman Dennis Harney said. He said officials estimated that thousands of gallons of gasoline had spilled.
BUSINESS
February 13, 2016 | By Andrew Maykuth, Staff Writer
Sunoco is dishing up a new way for customers to refuel at its convenience stores: Tacos. Up to now, it's been best known for its gasoline, but on Friday, the retail fuel marketer is marking the grand opening of its first Laredo Taco Co. outlet at an APlus store in Greensburg, in Western Pennsylvania. The first Philadelphia-area taco store is set to open next month in Chester County. This venture into fresh, made-to-order food - while not novel in convenience-store circles - is new territory for Sunoco, whose mainstay business has been motor-fuel sales.
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NEWS
July 16, 2016 | By Andrew Maykuth, STAFF WRITER
Commonwealth Court on Thursday upheld Sunoco Logistics Partners' power to take private property for its Mariner East Pipeline, adding momentum to Sunoco's plan to deliver more energy from the Marcellus Shale region to Marcus Hook. The court, in a 5-2 ruling, affirmed a Cumberland County judge's decision last year that Sunoco's pipeline subsidiary is a public utility as determined by the Pennsylvania Public Utility Commission, which Sunoco says gives it the authority to take rights of way from property owners who decline to negotiate agreements along the pipeline's 351-mile route.
NEWS
June 24, 2016 | By Andrew Maykuth, STAFF WRITER
Sunoco L.P., the Dallas company that owns the Sunoco retail fuel chain, announced Wednesday it acquired small convenience store networks in upstate New York and in Texas. The company said it paid $76.4 million for 18 convenience stores in New York state from Valentine Stores, Inc. The purchase includes 18 company-operated locations that sell 20 million gallons of fuel annually and one standalone Tim Hortons restaurant. Sunoco also bought the "Rattlers" retail convenience store assets and wholesale fuel business from Kolkhorst Petroleum, Inc. The acquisition, for an undisclosed price, includes 14 company-operated locations and a wholesale fuel supply network in the greater Austin, Houston and Waco, Texas markets, that sells or distributes 46 million gallons of fuel a year.
BUSINESS
March 11, 2016 | By Andrew Maykuth, Staff Writer
The first export shipment of Marcellus Shale ethane set sail Wednesday afternoon from Sunoco Logistics Partners' Marcus Hook terminal to a petrochemical plant in Norway. The JS Ineos Intrepid, one of eight 575-foot tankers commissioned by European chemical manufacturer Ineos, was loaded this week with 173,000 barrels of ethane that had been delivered to Marcus Hook from Western Pennsylvania through the Mariner East pipeline, Sunoco spokesman Jeff Shields said. Ethane, a liquid used in plastics manufacturing, is derived from natural-gas production.
NEWS
February 27, 2016 | By Andrew Maykuth, STAFF WRITER
The economic impact of the oil bust has radiated beyond the exploration industry: Sunoco L.P. said Thursday that a decline in sales at its Stripes brand convenience stores in Texas oil-drilling areas held down its earnings. With the decline in oil exploration, Sunoco said, there was a noted drop in sales of diesel and merchandise at its stores in West Texas and South Texas. "It's just a reality of life with the reduced activity in the oil patch that our sales are down and they are going to stay that way until we see some recovery in commodity prices and activity," Robert W. Owens, Sunoco's chief executive, said during a quarterly earnings call with analysts.
BUSINESS
February 27, 2016 | By Andrew Maykuth, Staff Writer
Construction of the Mariner East 2 pipeline, which has provoked landowner opposition along its route, has been pushed back until summer because of delays in obtaining permits, the pipeline's operator said Thursday. Michael J. Hennigan, chief executive of Sunoco Logistics Partners L.P., told investment analysts that more time was needed to obtain "hundreds of permits" required to build the cross-state pipeline, which will deliver Marcellus Shale natural-gas liquids to Marcus Hook.
BUSINESS
February 13, 2016 | By Andrew Maykuth, Staff Writer
Sunoco is dishing up a new way for customers to refuel at its convenience stores: Tacos. Up to now, it's been best known for its gasoline, but on Friday, the retail fuel marketer is marking the grand opening of its first Laredo Taco Co. outlet at an APlus store in Greensburg, in Western Pennsylvania. The first Philadelphia-area taco store is set to open next month in Chester County. This venture into fresh, made-to-order food - while not novel in convenience-store circles - is new territory for Sunoco, whose mainstay business has been motor-fuel sales.
BUSINESS
January 19, 2016
The Pew brothers' old Sun Oil Co. was an empire that built tanker fleets, sent engineers to Arctic and tropical fields, picked and financed Republican candidates, and ran steaming refineries from the Delaware and Schuylkill to West Africa and East Texas. It all happened from paneled offices atop 1608 Walnut St., later in Radnor and at 1818 Market. But pieces of the empire have continued to leave town since Dallas investor Kelcy Warren's Energy Transfer Partners (ETP) bought control of the company's former retail and pipeline units in 2012.
NEWS
November 28, 2015 | By Robert Moran, Inquirer Staff Writer
The last time Diane Barnes visited her brother Robert, who was living on the streets in Olney, was in January. She brought him new boots for the cold weather. She also tried to give him new gloves. "He insisted that I give [the gloves] to his friend," who also was homeless, his sister recalled Thursday night. The next time she saw her brother, it was in a surveillance video released to the media showing him being viciously attacked outside a Sunoco in Olney on April 7. She recognized her brother from the new boots.
BUSINESS
November 15, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Pipeline L.P. said Friday it accepted responsibility for a contractor who conducted repair work without permits on its Mariner East Pipeline project earlier this year, resulting in a $59,000 civil settlement with the Pennsylvania Department of Environmental Protection. Sunoco said a contractor that it did not identify had submitted permit applications for the work, but performed the repairs before the permit was issued. The repairs were in Berks, Blair, Cumberland, Huntingdon, and Perry Counties.
BUSINESS
November 14, 2015 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Pipeline L.P. paid a $59,000 civil penalty to settle allegations that it conducted repair work without permits on its Mariner East Pipeline project, the Pennsylvania Department of Environmental Protection announced Thursday. DEP inspectors found that Sunoco had not obtained permits for repairs to the pipeline, which the Newtown Square company has repurposed to deliver Marcellus Shale natural gas products to Marcus Hook. The repairs impacted seven wetlands in Berks, Blair, Cumberland, Huntingdon, and Perry Counties, a floodway in Blair County and two small streams in Huntingdon County.
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